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Nearly a year after its founding by political scion Taggart Romney, private equity and venture capital firm Solamere Capital LLC has nearly reached its posted fundraising goal of $200 million.
The Lexington-based firm is mostly staffed with Republican Party figures connected to Taggart Romney’s father, former Massachusetts governor and 2008 presidential candidate Mitt Romney.
Taggart Romney founded the firm last June with Eric Scheuermann and Spencer Zwick. Zwick was campaign finance manager on Mitt Romney’s 2008 presidential campaign. Scheuermann is a partner at the New York-based private equity firm Jupiter Partners LLC. Former JW Childs CFO Allan Dowds joined Solamere as CFO in October.
Since its founding, Solamere has added two prominent Missouri Republicans to its roster. Kansas City-based National Beef Packing Co. CEO John Miller is the firm’s operating partner, and former Missouri Republican Gov. Matt Blunt joined the firm in December as a senior adviser.
Blunt helped raise funds for Mitt Romney during his 2008 presidential candidacy, and Miller was a campaign contributor.
According to documents filed May 29 with the U.S. Securities and Exchange Commission, Solamere has raised $186 million thus far for a vehicle dubbed Solamere Founders Fund I. The firm’s website states it will invest the fund in “private equity fund partnerships within buyout, turnaround, growth equity, distressed, credit and venture capital strategies.”
Solamere officials did not return calls requesting comment.
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